Nominator

Overview

Nominators are token-holders who contribute to the security of the network by economically backing (aka “nominating”) up to 16 validators of their choice with their tokens (aka “stake”). Nominators share part of the rewards earned by the validators in the active set that they nominated. It is important to note that nominators are also subject to slashing in case of misbehavior by one of their nominated validators.

Diagram

Description

Nominating

Bond tokens
  • Use some GLCH that is less than the total amount of GLCH you have, so you have some leftovers to pay transaction fees. minBond= 0,0005 GLCH
  • Pick whatever payment destination makes sense to you. If you're unsure, you can increase the amount at stake to simply accrue the rewards into the amount you're staking and earn compound interest.
Select a validator
  • You can bond funds up to 16 validators.
  • Staked amount of nominators may be dispersed in different proportions to any subset or all of the validators you choose.
Submit nomination
  • Confirming the transaction means that you are now nominating. Your nominations will become active in the next era.
  • While there is no limit to the number of nominators a validator may have, a validator does have a limit to how many nominators to which it can pay rewards. Max nominators rewarded Per Validator: 64

Stop nominating

  • Nominators can stop nominating at any time to stop staking your funds. Right after stopping bonding, there are no changes in balance. A nominator can vote for an epoch that remains in this era.
  • The un-nomination is effective in the next era, and that un-nominating does not automatically unbond your funds.
  • There is an unbonding period of 24 eras before bonded funds can be transferred after issuing an unbond transaction. The unbonding period starts at the new era after the era at which the unbond tx is made. After this period, nominators can withdraw the unbonded amount, which makes their transferrable balance of Stash account increase by the number of tokens they've just fully unbonded. For example, unbond tx is made in the 18th epoch of the 2nd era. So validators need to wait for 18 remaining epochs of the 2nd era and the next 24 eras.
Last modified 1yr ago